Nigeria Customs Service Clarifies B'Odogwu Platform Uses Official CBN Exchange Rates

The Nigeria Customs Service has clarified that its B'Odogwu platform operates using official exchange rates transmitted directly by the Central Bank of Nigeria, ensuring transparency and accuracy in customs duty calculations.

According to the Service, the platform does not alter or manipulate exchange rates for calculating import duties and other charges. This clarification comes amid concerns from stakeholders regarding the consistency of rates applied during cargo clearance.

The B'Odogwu platform, which serves as a digital interface for customs operations, pulls exchange rate data straight from the CBN to ensure that importers and clearing agents are charged based on the official rates set by the nation's monetary authority.

Customs authorities emphasised that the system was designed to eliminate human interference and create a more transparent environment for trade facilitation across Nigerian ports and border posts.

The Nigeria Customs Service continues to assure the trading community that the platform remains committed to accuracy and will maintain its direct link to CBN-sanctioned rates to promote fair trade practices.